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CNBC
Apr 5, 2010 7:00pm EDT
numbers. let us enjoy it. america has had a hardship. we are now coming out of it. all right. if all this wasn't good enough news, pending home sales today came in surprisingly strong for the month of february. cnbc's diana olick will give us the full report. >> a big surprise on the pending home sales index which most thought would be flat in february thanks to bad weather, but it was up 8.2%. this is based on contracts signed, not closings. realtors are calling it a hint at a spring surge. the month to month rose 9% in the northeast, up nearly 22% in the midwest, up 9% in the south, but it fell nearly 5% in the west. so is it the start of the spring surge perhaps helped by the end of the home buyer tax credit? could be, but the concern is still about a new wave of foreclosures. in fact, today the administration's short sale program goes in to effect. the government will pay home enowner, lenders and eninvestors to get short sales done quickly. it's when a lender allows the troubled borrower to sell the home for less than the value of the loan. the administration upped the ensend te
CNBC
Apr 13, 2010 11:00am EDT
america segment, we'll talk with welt for the common good. they want to repeal the tax and they say they want to pay their fair share. >> and i'm melissa francis, we'll talk live with the ceo of virgin america and get his take and, you guessed it, the baggage fees. we love it. this is "the call" on cnbc. >>> okay, well, here you go, not a great way for the earning season to start. alcoa missing its revenue forecast and wall street taking notice here. stocks falling with intel up next reporting after the bell this afternoon. the dow back below 11,000. take a look. but it has been creeping up just a little bit there. we're down 32 off the lows of the session down 0.3% there. s&p 500 also seeing some downside but, again, bouncing off the lows. the nasdaq in the red down 7 points and 25% loss there. oil is falling below that key 83 support level. that's one to take note of today. $82.72 per barrel right now. we want to head over to our pal bob pisani at the new york stock exchange. >> we're overalcoa. disappointment, but the big story is going to be in banks and transports. we'll get jp
CNBC
Apr 16, 2010 6:00am EDT
electric almost back at $20. same thing can be said of fellow component bank of america. this has been marching right towards $20 where it hasn't been also since november 2008. both these companies were filled by the same sort, of that financial crisis. bank of america said to report before the bell, as well. we're looking for around 7:00 this morning for those numbers to come out. revenues of nearly $28 billion. and the shares, as we mentioned, they've been on a run, really pushing higher, up about 5% this week alone. coming up at 7:15 eastern time, we've got bank of america ceo brian noin na hamoynihan. because bank of america is the nation's largest bank, it tas talk to one of every two consumers. >> you're not doing business with bank of america? >> they bought my mortgage. >> but you don't -- that's not your bank? >> it's not where i have my deposits, but they own my mortgage, so i am doing business with them. >> well, then it's two out of two. >> but there's two other people at the table. maybe they have it. >> do you have bank of america? >> i think it's not bank of america. sti
CNBC
Apr 9, 2010 5:00pm EDT
that and more when america's post-market show continues. that fidelity green line? well, yeah, but it keeps leading me back to my old office. i think it might be broken. or maybe it's trying to tell you something. yeah, but what could it be trying... oh, i left my 401(k) at my old job. and i left a jacket on the back of my door. but i think the line is talking about my 401(k). leave a 401(k) behind? roll it over with the company that's helping more people reach retirement than anyone else. when it comes to investing, never settle. fidelity investments. >>> what the hell is going on with alcoa? there we were getting all juiced up about earnings season next week. kicked off by that aluminum player monday night. and then we get a second downgrade today. jon najarian joins me now on the fast line. jon, just explain it to us if you would. how worried should we be? >> i don't actually think it's quite as worrisome, simon, because we've got jpmorgan. they already downgraded him. deutsche bank downgraded alcoa. argus actually did upgrade them. but think with earnings after the bell on monday,
CNBC
Apr 9, 2010 5:30pm EDT
got coming out, jpmorgan, bank of america, and obviously google, which is a story all its own. i think that's going to be what's going to drive the market. >> brian? >> well, he's right about the slow grind. it's definitely happening. you're seeing the market inch higher. half i percent move or so a day. but what's really interesting is when you take a look at the vix here it's trading about eight points higher than actual market movement going on here. so what it's telling me there is option traders are betting and bidding up those out of the money puts, bidding up out of the money calls. they have in the back of their mind that the 2008, 2009 situation where you had these great big moves in the market and there are options traders that are afraid of that move right now, but to me that says you can go out there and actually comfortably sell some of these if you believe the market moves higher. >> but the problem right now, and mike is right, the market is complacent, and it shouldn't be, because if you look back at what has happened for the last four earnings cycles the market w
CNBC
Apr 13, 2010 2:00pm EDT
upgrading corporate pcs in north america. those three reasons are why i would buy intel ahead of earnings tonight. >> that is a day of trade. let's get to the trade deficit numbers. dave, what's your view on that? obviously the headline is trade deficit was wider than expected. too bad uncle sam yet again. >> good and bad news under this. good news is we are exporting more. the bad news is we're importeding a lot more than we're exporting. obviously there goes the trade deficit. if you read the bulletin put out by the america, said most of our sales are coming from overseas, what americans consumers are buying, computers and televisions. what we like is best buy. we don't cover the stock but our checks are showing us best buy is track ahead of the quarter. where can you get a tv? obviously best buy. >> that's your trade on the trade deficit. what's your one buy, jimmy, before we go? >> my best buy would be gold. i think the fact the dollar strengthened off of this as a knee-jerk reaction was great but the government won't raise numbers until the employment picture has sustainable growth.
CNBC
Apr 16, 2010 9:00am EDT
over to mary thompson now for the very latest on bank of america, the other dow reportee today. >> like jpmorgan, bank of america handling and beating street estimates. a record economy and strong sales behind the trade numbers as the much aligned merrill lynch acquisition continues to pay dividends for the bank. ceo brian moynihan had this to say about the quarter earlier today on "squawk box." >> well, i think our global banking and markets business, our investment banking business had a great quarter, and i think the other area i'd say is the credit sim proving. it's still way too high from our standards, but it is improving and both those are good news for our company. >> earnings of 28 cents a share were 17 cents ahead of estimates. five of the bank's six units, including the troubled credit card business, posted profits. still, net income declined to $3.2 billion from $4.2 billion last year as charge-offs for non-performing loans increased. on the plus side, the $9.8 billion set aside for future loan losses with $3.6 billion less than was set aside in the year-ago quarter. this as
CNBC
Apr 20, 2010 7:00pm EDT
tea party principles? we have talked a lot about the contract from america on this program. in fact, we unveiled them with ryan hecker a week ago. they are talking about constitutional limits to government, constitutional restraints on spending, on taxing. indeed on repealing obamacare. are these the principles guiding your decisions, your journeys, your travels and your endorsements? >> they're very consistent with the criteria we're using. we're looking for people not going to come to the senate to take on the bacon. that's what's gotten us trillions of dollars in debt. folks who swear off earmarks who want to repeal obamacare, who believe in limited federal government, keeping their oath of office. these are not right wing ideas. they are right in the middle of where most americans are. so i think that's why candidates like marco rubeo and marlin stutsman will do well. america has wakened up. it's not about political philosophy. it's about common sense. don't spend more than we are bringing in. stop adding to the debt. this appeals to democrats, republicans and independents. that
CNBC
Apr 17, 2010 6:00am EDT
tech earnings, kicks off next week on tuesday when america's favorite stock, apple, reports earnings. so it's time to make the call. but before we get to apple let's talk tech broadly. some pretty big moves expected, and of course we got google earnings yesterday night and then we saw some big action today in the stock as well as the entire sector. >> well, listen, we make this point all the time. google is also a very company-specific story. they dominate their field. and they actually generate, you know, 97% of their revenue is from one product. they don't give guidance. they're really cagey with the street. so this is a stock-specific story. earlier in the week we saw intel. that is a much more macro story. they sell across geographies, to a lost different businesses. the guidance out of intel was fantastic. so i think the macro picture for tech looks really good. okay? but then again we're at 52-week highs in the market. you've got to roll up your sleeves. this is where you earn your keep, you know, by picking stock stories. >> let's take a look at some of the implied moves. amaz
CNBC
Apr 15, 2010 7:00pm EDT
. what a waste. thank you. >>> coming up, can america truly maximize its future to grow under the current tax system and future tax threat? i'm going to ask house members paul ryan and billy pascal when we come back. a senior at william and mary has the story better than all of us combined. let's just scrap the code and start over. gecko: uh, you wanted to see me sir? boss: come on in, i had some other things you can tell people about geico - great claims service and a 97% customer satisfaction rate. show people really trust us. gecko: yeah right, that makes sense. boss: trust is key when talking about geico. you gotta feel it. why don't you and i practice that with a little exercise where i fall backwards and you catch me. gecko: uh no sir, honestly... uh...i don't think...uh... boss: no, no. we can do this. gecko: oh dear. vo: geico. fifteen minutes could save you 15% or more on car insurance. >>> there you see. that's the new york city tea party gathering. their rally is going on. don't know who is speaking. we'll talk to lou dobbs later in the program because he will be speaking there
CNBC
Apr 28, 2010 4:00pm EDT
spending improving across the board. important thing is volume growth in north america and not an asian story as it was north america. and dupont yesterday notably raised their guidance. trish, back to you. >> yes, they did. thank you, bob pisani. >>> well, the stocks tacked on more gains after the fed announced it would kitsch raeep unchanged, but how long should the fed spur along here? what is ahead for your money? we will get more from david kelley, chief market strategist at jpmorgan funds, and then we also have michael yoshikami, president and chief investment strategist at ycm wealth investment strategies. so, i will begin with you, mr. kelley, what is your take on the european debt situation and how much of a problem for the u.s. markets? you saw not a big reaction on spain today, but you had greece and portugal cut yesterday, and we did see a bit of a sell-off. what is your take as we move forward? >> well, it is really a threat. i mean, what i worry about is the politics here. the reality is that greece is too big to fail. and, you know, i think that the reason we did no
CNBC
Apr 30, 2010 11:00am EDT
america and merrill lynch cut it to a neutral this morning and see it down another 7% and all the other financials are weak here, as well. they're also concerned about any criminal porobes of any kind. finally, massey energy, third company here involved in difficulties here. there are reports of criminal investigation, i say reports regarding that mine explosion in west virginia that happened about three weeks ago. all of this weighing on the market. people don't know exactly what's going on. good news follow up on the home builders. generally orders have been improving here. horton 55% improvement overall in the net orders. that's an excellent metric and generally they have been improving. ryland one of the companies only disappointing. chevron same story here. higher oil prices have helped the upstream production but good news in chemical and even, larry, refining is starting to get better and you know what a disaster that has been for a while. >> investors are digesting a lot of important economic data today, manufacturing, consumer confidence and the big guy, a first look at f
CNBC
Apr 16, 2010 7:00pm EDT
midtown, citigroup, bank of america, morgan stanley as well as jpmorgan and deutsche bank. interestingly, some banks off of wall street faired much better, raymond james or stifel. check it out, analysts like citigroup saying it's a black eye, but probably not life threatening. oppenheimer downgraded the stock, but they said it would be good for goldman sachs if other firms get charged. ubs said the uninvestable label is back and that further action could happen and seeing business going away while dick bove said someone must fall on their sword although the stock's a buy. in the near term, investors will be waiting to see if more charges will file as well as if goldman can keep the streak alive when it reports earnings tuesday morning. back to you. >> all right. and that was matt nesto with an interesting point we're going to be following up on a couple of moments. someone must fall on their sword. by the way, the one man the s.e.c. is charging today still works today/tonight at goldman sachs. even he has not yet fallen on his sword. here's jim cramer on the fallout. >> y
CNBC
Apr 22, 2010 5:00pm EDT
energy will really make a dent when it comes to america's energy use. beyond the barrel, the race to fuel the future to night at 8:00 eastern. >>> join us for that cnbc special report. i'll seal you tomorrow. "fast money" is up next right now. good night. >>> live from the nasdaq market site, this is "fast money." let's get to it. we have a busy after-hours session on hand. american express, capital one financial, they are higher. time to separate the men from the boys. so i turn to karen. >> excellent. >> how do we do that? i mean, we're seeing some pretty good numbers put out by amazon and microsoft and the stocks are getting crushed here. >> right. i think this is the theme of this earning's season and it was the theme of last earning's season as well. the market was a bit, maybe fro fro frothy. even good earnings aren't enough. the bar has been set so high. but the story isn't dramatically different. this isn't a reason to run out and dump things, so i'm going to hang out -- >> we started dumping things on friday. that's the problem. i've been a bull, but the problem is everythin
CNBC
Apr 15, 2010 5:00pm EDT
spend on a very, very expensive device. >> tomorrow morning, the pressure is on bank of america, and ge. they're going to have to reverse a lot of negative momentum you're having here with some of these earnings releases. >> we're still tracking the comments coming off of that google conference call. the cfo saying they really believe they made the right china decision and the mobile business is growing nicely. it's a profitable business. we're still on that story, we're staying on that story throughout the course of the evening. in the meantime, let's take a big picture view of the markets. despite more than 150 names hitting 52-week highs today. our next guest says the chart is at a critical level. thanks for being here. >> right now we're at a critical and dangerous point in the s&p 500. we have had a retrenchment to 62% of the october '07 highs. that's an credible run. and 62% in technical analysis is a very important resistance point. and anything could happen, whether it be earnings or an exgenic shock and we could see a real trace backwards. don't think it's going to break thr
CNBC
Apr 14, 2010 7:00pm EDT
contract from america. >>> finally, get this, a new poll shows a virtual dead heat for the 2012 presidential race between texas congressman ron paul and president obama. that is right. and another poll shows republicans lead the general ballot in november midterms. fasten your seat belts, everybody, "the kudlow report" begins right now. >>> good evening, everyone. i'm larry kudlow. welcome back where we still believe free market capitalism is the best path to prosperity. here's my thoughts on the money politics news of the day. as i said stocks roared today. humongous v-shaped recovery for retail sales, beat everybody's expectations. a 1.6% jump in march, a 7.6% gain over the past year. those are big numbers. speaking of v-shaped recovery, we had very strong business sales. think top line revenues for corporate profits. and a solid increase for business inventories. so i'm going to stay with the v-shaped recovery theme, at least through the end of 2010 before your taxes go up. stocks had a banner day. the dow up 104 points, the s&p 500 cruised through the all important 1200 benc
CNBC
Apr 29, 2010 9:00am EDT
play by the same rules that the rest of america plays, not new rules as they go along, but the same rules that all of us play by. you destroy the jobs, help us create 11 million jobs. they should help pay for it. >> i understand that you're making a point and you want to make a clear line in the sand here, but isn't it fair, or at least would you acknowledge that it was more than just bankers that caused the problem in america, right? a lot of big union-run and union dealt with institutions like the car companies also failed, and that wasn't just the fault of wall street, was it? >> a lot of them didn't fail. >> right? and some of them did and received more bailout money than any individual bank. >> any manufacturing took our economy to the brink of disaster. this did. wall street did. and they haven't learned the lesson. if you look at gm, they've paid the money back, they're getting great cars, they're getting market share, they're creating jobs. these guys took $13 trillion worth of assets away from average americans and they haven't learned the lesson. they're back to the same o
CNBC
Apr 24, 2010 4:00am EDT
america and general electric. yes, parent company of this network. people consider it a financial because of its big ge capital division. i presumed that citigroup is going to go to zero. and i even presumed that jpmorgan was going to go to zero. and on top of all that i took into account the total elimination of dividends at caterpillar as well as 3m. and then i added in the potential bankruptcy of alcoa. >> the house of pain. >> sell sell sell! >> for good measure. you've got to admit those are pretty dire assumptions. and you know what? even under those ghastly conditions, with all of those bankruptcies, going to zero situations, i still could not get us a low that took us down significantly from where prices already were. from the moment i made that call, remember, it was a bottoms-up call. i didn't say i didn't like the market. i just said i add all these up and i take minus three and minus three and minus five and people were calling me crazy, but i could not get the dow prediction lower. and people said i had no idea what i was talking about. but a month later, with the dow
CNBC
Apr 12, 2010 11:00am EDT
municipal bonds. >> dean, there are no failures in america. >> okay, larry. >> greece, portugal, spain, illinois, new york, new jersey, california. >> we can just continue to sweep this under the rug for as long as we want to. >> everybody's too big to fail in this country. you know that, my friend. >> we just print more, right, larry? >> print, bail out and whatever. government control. and then just to soak it all up -- >> we never actually have to pay these bills. >> we'll never pay them. we're just like europe. you we're going to have a value and a tax across the board. this is america. 21st century america. >> i think i'm going to move to bermuda. >> let me make a suggestion, then. >> pardon my cynicism. >> go ahead. real quick. we're going to go. make a suggestion. >> my suggestion is that you stick with someone like a franklin, some of the really big bond houses that have very big pulls. if you do have some defaults, the default rate is historically very low, but if you did have some your investors would be protected and those retirees could get those monthly checks. >> w
CNBC
Apr 6, 2010 7:00pm EDT
class war fare policies make their way to our shores here in america? is this a high tax movie we are going to see once again in the states? we have robert guest of the economist and dan mitchell of kato to discuss this when we return. i certainly hope not. then again, higher tax rates loom. >>> we continue our ongoing coverage of the run-up to next week's april 15th tax day. there's news from london. on the eve of their snap election, britain's tough marginal tax rate is being jacked up from 40% to 50%. is this move coming to a theater near you here in america? and did anyone say tea party revolution? let's talk. we have robert guest, lexington columnist and washington correspondent for the economist, and dan mitchell, senior fellow at the kato institute. robert guest, it's a pleasure. i'm familiar with your work. thank you for coming on the show. you probably know more about british politics than i do. although i was over there a month or two ago and did neet with some of the high command torrys. if they would stand up and say i'm going to repeal the 15% tax rate, i think they'd win
CNBC
Apr 19, 2010 9:00am EDT
, jpmorgan and bank of america all reporting numbers that were pretty good. there's two problems. number one, much of the gains we've seen already priced in the way the stocks are trading. ci citi's up 37% year to date, bank of america up 22%. the problem is the financial reform thing you were talking about the senator, that throws a monkey wrench into potential earnings down the road because it could be much more aggressive than the street expected. much of the gains in the s&p 500 for earnings this year are financial gains. that could be a big problem. halliburton came out with numbers that were very good, 3 cents above expectations. more importantly, north america really has improved. recounts up. they may have opportunities to increase the pricing level. here's the concern -- natural gas prices are way down. if this continues, there will be pressure on halliburton to cut prices for all the rigs that they have out there. and speaking of lower prices, sharon over at the nymex, i see oil down $2 again today. >> it is, and bob, the traders here have a lot to watch -- the two gs and jet f
CNBC
Apr 12, 2010 9:00am EDT
improvements in search. sienna was upgraded to a buy at bank of america merrill. expedia upgraded, so a number of upgrades on some stocks today, although i did say we are going to be flat off the open after six consecutive weeks of gains. finally, california pizza kitchen talking deals here, says it is exploring strategic alternatives, including a positive sale. erin? >> thank you very much, scott. >>> the national bureau of economic research isn't ready to declare that the recession is over. still, though, a lot of economists are coming out and getting a little bit more bullish. cnbc's senior economics reporter steve liesman has the full story this morning. steve, just to make it more exciting, i've been referring to it this morning as the council of wizards as opposed to the nber, just to sauce it up a bit. >> yeah, and they're all about four feet tall and they stand behind a curtain and they push buttons and determine whether or not the recession is over. but forget about the academic council. let's talk about the wall street economists, where forecasts have turned rosier reall
CNBC
Apr 23, 2010 2:00pm EDT
green ones there, american express, intel, bank of america, mcdonald's, travelers on revenue and jpmorgan chase. so, a lot of the financial there's have beaten on revenue. eight are in line. that is basically the yellows. and two misses, coca-cola and alcoa. we'll get more of those dow components next week, beginning on monday with several of major stocks. let's look at who is coming up next week. caterpillar, black rock, texas instruments and on tuesday dow, dupont as well as 3m asand u.p. and on thursday a commore big dow components, exxon, p&g and on friday discovery communications which has been a very, very hot company in television space and chevron and constellation energy. back to you guys okay, tyler, thank you so much. >>> coming up on "street signs," should the government tell you how to invest your money and where to invest your money? we unveiled a potential threat that no investor can afford to miss. >>> plus, a big milestone for netflix. breaking the $100 mark just yesterday, but do the analysts really give this stock a thumbs up or a thumbs down? we'll talk about
CNBC
Apr 16, 2010 4:00pm EDT
damage, and no doubt, you look at the american expresss and the bank of americas and there are weak spots in all of the financials. i want to point out deutsche bank which is another big player in the cdo space, and noticeable how much weak than the rest of the market, and goldman and citigroup down as well. and looking at the materials first. >> and some of the issues to stop you there, some of the traders i talked to theday said they question whether or not this is the tip of the iceberg, and that why you are seeing additional sell-off within some of the other big financial names. i mean, who knows at this point. >> we don't. but remember, there were not a lot of enormous players in this cdo space. there were several big names involved and we saw two of them that moved to the downside aggressively. i wanted to note that the materials were weak because the commodities fell apart at the same time and never really recovered here. again, this whole political part of this, and i can't emphasize this enough, it was a major issue on the street. the president came out and said that people
CNBC
Apr 23, 2010 7:00pm EDT
of the tea party contract with america. we'll talk about that, too, with one of its leaders. but first up, let's take a look at the v-shaped recovery numbers from today. are we going to put this up on the board? let's hit the first one, put it up, let's go. first one up, capital gains, durable goods. cap x, can we get that up on the screen? either the full screen or this screen? all right, there we go. durable goods numbers came out today. notice if i get this right the v-shaped recovery. in fact, total durable goods are now rising at, what, 10% from minus 30% not too long ago. this is a huge improvement. if we put the second chart up on the board, we will get the key core durable goods which is the cap x expenditures from businesses. can we get that on the screen? the other chart is not in yet. i'm sorry to report that. we have two other charts to put up here. the producer chart index chart from commodities and for goods. here's single family home sales. i don't really regard this as a v. all i'm saying is they picked up a lot in march. init's one of the largest gains in the las
CNBC
Apr 21, 2010 7:00pm EDT
made america so successful is our ability to -- if we've got a dream and we want to go get some financing for ap ipod, the next invention out there, that we are able to go and get investors to finance our dream and make it happen. so we have to have a thriving and effective financial sector. >> reporter: so it is god's work. >> i think it is very important work. but we have to have basic rules of the road in place to make sure investors, consumers, shareholders, the economy as a whole, are protected against exce excess. are protected against wild gambles that are taken purely because it's good for somebody's year-end bonus as opposed to because there's some economic function that actually contributes to society as a whole. >> reporter: larry, one interesting postscript, we talked about the issue of derivatives you're going to discuss with senator durbin. blanche lincoln as gone further than the president's own administration in proposing that did he say anything about the liquidation business. and hint the white house might say don't go, we don't need it to bring republican sena
CNBC
Apr 5, 2010 6:00pm EDT
company that's now the second largest company in the americas, jim. i'm talking about petrobras, pbr -- >> overdone, gus! overdone. it's moved too much. it's too big. and yes, i like brazil. how many times have i said even in this terrible debt to buy banko santender. but i think there are cheaper oiltz. i think bp's cheaper. i think we should keep playing with the calls, frankly. like maybe we go to mark in the land of enchantment of new mexico. mark. >> caller: jim, boo-yah to ya. >> hey, let me give you a boomer sooner boo-yah, lobo to ya. >> caller: thanks. >> by the way, i had butler, and i have duke. no, that's not true. i had like georgetown and syracuse. go ahead. >> caller: cool. say, i've been eyeballing first energy, and it's been downgraded recently. want to ask you if this is a good time to pick it up. >> i looked at first energy today. i was going to do a story about how the utilities are in buy mode. i love the acquisition that they made. and then you know, just this incredible wave of negativity. there's still one more problem with nuclear and -- look, this acqui
CNBC
Apr 15, 2010 6:00am EDT
top ten, chevron, general electric, bank of america rounding out at least the top five. >> what is the basis? >> market cap and other stuff. in about 20 members, we'll be talking to the editor of the paper who can tell us how they weigh weigh these things. >> yes. it's a cap because here -- >> well, lee gallagher will be with us in a few minutes. so there is proprietary issues in there. >> sure, or elsewhere would we wait for them to announce? >> we've done this list every year. but since you brought it up, we do have a column -- and what is your latest column about? >> can i -- does that work for me? >> oh, the futures is in the? this one is really interesting. welch, buffett, dimon all saying that thefz a -- >> jamie today, right? good picture of him. he's going like this. it's family. it's good. check it out. >> some other interesting statistics, general motors is out of the top ten for the first time ever. home builders are off the list entirely. >> speaking of that, foreclosure rates are surging, hitting record numbers in the first quarter. foreclosure rates surged, and that inclu
CNBC
Apr 13, 2010 12:00pm EDT
bill ford joins us on the importance of america's manufacturing sector and the need to go big when going green. >>> i'm dennis one year after ranking best in first quarter of '09. >>> twitter unveiled its business plan today, but is it anything to tweet home about? that's what's on julia borteen's menu. >> everybody is talking about twitter's long-awaited business plan. the retweets and now what is a retweet worth and will it work? >> julia, thank you very much. let's get straight away to the market action. bob pisani kicking it off for us that new york stock exchange. bob? >> we can't quite seem to hold that 11,000 level and keep slipping in and around it. the dollar right at the top and a bit of a dollar rally right in the middle of the day. vague rumors floating around that mr. bernanke might use that joint economic testimony tomorrow to remove that extended testimony language. it did move the dollar up and didn't dramatically hurt the stock market except some things like the commodities. precious metal stocks and they had a nice run up so all the gold stocks, for example, and t
CNBC
Apr 6, 2010 12:00pm EDT
bill america bonds nothing but a bailout for new york and california. is he right or just fanning the flames of fire that doesn't exist? >>> cyberbullying. companies that provide a form for potential bashing libel when things go wrong? >>> the president of ea sports talks about the timing of its new tiger woods game out today. >>> the governor of west virginia now giving a press conference on the worst u.s. mine disaster in more than 20 years. in the town of montcoal, west virginia, at least 25 miners dead now in an explosion and four others are still missing. this mine is owned by massey energy which has had its share of osafety violations in recent years. hampton pearson has more now. >> hello, tyler. massey energy safety record will be scrutinized why the exact cause of this tragedy goes on. last year inspectors found more than 450 violations and fined massey in excess of $382,000 related to problems involving its ventilation equipment plan at the upper big branch mine where this latest tragedy has, in fact, occurred. the second time in four years coal miners has died. the deat
CNBC
Apr 14, 2010 9:00am EDT
-quarter numbers easily topped targets, what does that mean for citi and bank of america, out later this week? and fed chief ben bernanke testifying before the joint economic committee today. we'll head live to the hill and hear from mr. bernanke. >>> do you think fed chief bernanke is good or bad for your money? that's our street poll today. simple yes or no. squawkonthestreet.cnbc.com. is where you vote. >>> all right, mark, have you seen the second page of the "new york post" or the front page of the "wall street journal"? >> yeah, i noticed that picture. they don't look happy. >> well, this is our picture of the day. french president nicolas sarkozy and russian president dmitry medvedev going bliallistic duri yesterday's nuclear summit. >> don't either one of thome know it's impolite to point? especially the way -- i mean, they've practically got their fingers up each other's noses. >> yes, they do. and i've got to say, sarkozy looks even angrier and more vicious than medvedev. >> medvedev looks like he's keeping it under control. >> because you know why, look at the guy leaning in b
CNBC
Apr 13, 2010 5:00pm EDT
profits when the tax man comes knocking. all that and more when america's post-market show continues. ♪ keep on smiling ♪ pay your taxes (announcer) roundup extended control does two jobs... at once. one: kills weeds to the root. two: forms a barrier, preventing new ones for up to four months. roundup extended control. >>> welcome back to "fast money." we are live at the nasdaq marketsite in new york's times square. china's biggest search engine baidu today tipping into triple digits. we don't mean the stock price. we're actually talking about the p/e ratio. it is now over 100. google, meantime, trades at comparatiatively more -- comparatively? >> just go with it. push through. >> 28. i mean. but you have to say that they are tapped into the growth of the world's largest internet market. >> and they're beating and they have beaten the last three quarters and i bet they'll continue to beat, but the reality is valuationwise this looks a little scary to me. it's not a stock i'm going to short -- >> a little scary at 100 times earnings? >> but if you want that exposure to the online
CNBC
Apr 22, 2010 7:00pm EDT
, bailout america. and what the democrats and what the administration are advancing here is really, again, taking the wall street bailout of a year and a half ago, and in the authority that's being extended to this and future administrations, they're making that bailout permanent. >> just a couple of things. a recent rasmussen poll shows 34% of americans want more regulation of financials, but 47% actually oppose. that's amazing. 47% oppose financial regulation. and as you probably know, the pew poll recently, 80% of americans completely mistrust what's going on in washington. my pal dan henninger of "the wall street journal" wrote a great column about that today. i, like you, think there are some positives in this bill. senator chris dodd worked hard on this bill, and it's a much more open process than the obama health care process, that's for sure. congressman, why not just put all of these failed banks, if they occur, into bankruptcy court. that's the simple. have some bankruptcy court reform. take the discretion away. just put them in the bankruptcy court like any american company who
CNBC
Apr 12, 2010 11:00pm EDT
time upgraded by bank of america merrill lynch. this isn't an upgrade from a hold. no, that would be fine. it's an upgrade from a sell. he was telling to you sell it on friday, buy it on monday. sister, mother, sister, mother. i've seen "chinatown." it isn't an upgrade on a stock that has bottomed or is near the bottom. it's an upgrade at the 52-week, for heaven's sake. what's truly amazing to me is ciena did a much panned acquisition of a key part of the failed nortel business up in canada and got slammed for it. they were down there giving ciena the business. the stock took a huge hit from 14 down to 10. this bank of america at merrill lynch analyst, he hated the nortel acquisition when it was made. oh, now he says the merger is creating "a global optical powerhouse." the same guy. good grief. couldn't he have told us that when the stock was 11 instead of 17? you can't make this stuff up. he had a $10 target on ciena when the stock was at $13.44. now it's 17. got a $22 target. what happened? something maybe good over the weekend. ciena's catching a wave of new capital spending b
CNBC
Apr 28, 2010 2:00pm EDT
now? or will thomas hone ig have friends? is america ready to take the training wheels off. we get ready for the fed decision. welcome to the special edition of "street signs." i'm erin burnett at the new york stock exchange. we talk to someone who knows how strong the recovery is. someone whose company gets two-thirds of its revenue from housing and construction, and whose stock is literally through the roof on that news. the ceo of owens corning. stock up 10%. and mike is with us now. good to have you with us. we haven't seen you in a while. we appreciate it. obviously good day for your company. much better than expected when it came to earnings. what can i read into that about housing? >> well, thanks, erin, for having me. obviously today we announced a very strong start to the year. we were able to increase our guidance. what we said in our xaul is we believe our end use markets are operating well below their potential. but we are seeing good sequential improvement in our markets. they do seem to be stabilizing and now improving. >> so are we in a v-shaped recovery? the sort of
CNBC
Apr 9, 2010 6:00pm EDT
. as always, unfortunately, because it's one of the worst reporting companies in america, alcoa, the country's largest aluminum producer, kicks off the season. i can wait for alcoa. i've made that joke every year for 30 years. now, they report after the close. alcoa's been hurt since it reported last. but the two markets that failed to hit their targets last quarter, aerospace and industrial gas turbines-r at the beginning finally of long positive cycles. this company has immense cash flow and cost controls. the amount of money that could be made here as the economy continues to turn is impossible to ignore despite the fact that two firms downgraded it this week. i want you to watch this one closely, pay special attention to what they have to say about energy costs. after the street dumps on it, which it's going to do, maybe pick some up. as i expect both businesses to be strong in the second half. importantly, we will get our initial financial report card from the two major banks this week that i am watching, jpmorgan on wednesday and bank of america on friday. these companies will
CNBC
Apr 20, 2010 11:00pm EDT
. i'm giving gigunda boo-yahs to the people in tetesford america and kings collegiate for asking me the tough questions and reminding me how reviled the game is. but i'm right back at you. but some of it shouldn't be reviled. the part that pays dividends. "mad money" will be right back. ♪ >> announcer: coming up, mobile mania. could the anytime anywhere internet keep your portfolio connected with profits? cramer's going one on one with ciena's ceo on the "executive decision." and later, retail resurges. one stock's been up huge in the past year. but could it still be undervalued? cramer's going off the charts to find out. all coming up on "mad money." >>> tonight, in tribute to the late great comedian investing guru george carlin, boy, he loved the show and used to give me tips every week about how to make it better, i want to talk about the one dirty word you can't say on financial tv. speculation. i'm just about the only person in this business who encourages you to speculate, take a chance on risky stocks that can deliver huge gains. everybody else will tell you it's too dangerous
CNBC
Apr 28, 2010 12:00pm EDT
double-digit volume growth in north america and europe. dow is up and dupont raised its estimates yesterday. tradertalk.cnbc.com. the reaction today to the spanish downgrade, not quite as severe as yesterday. >> not quite as severe, but, again, you have to be under a rock anywhere on the glob not to understand that there is a factor there and, of course, not as much shock value as some of the earlier news or some of the bigger downgrade news yesterday by the weaker players. but, nonetheless, so many dismissing why should we listen to the rating agencies and what have they done right for us on the last couple years and hard to dismiss the logic behind their moves and no matter whether you're double a or not. spain is still well into an investment grade still costs more for collateral and funding on every downgrade. let's look at the charts real quick. the euro currency, once again, if you look at the dollar index which includes a lot of currencies. it's almost exactly at a one-year high. if we look at our interest rate on the ten-year going into our 42 billion five years to be auct
CNBC
Apr 8, 2010 7:00pm EDT
, especially latin america and europe presence, which they lack. but giving that they can't get that, maybe this is what they're going to do instead. they have to do something. they're not doing well as the status quo. >> nobody's making any money. that's not true. southwest is profitable. i don't think anybody else is profitable. is this like too many seats, chasing too few passengers? is this the ongoing problem in that business? >> no, i don't think it's so much too many seats chasing too few passengers. look, you know, and in this respect i disagree with almost everybody. i think the industry -- this is an industry that needs some regulation. the fact is,it isn't that we have too many seats, it's that we have too many alternative products offering exactly the same thing. let me give you a great example. delta has recently announced they're going to add 12 daily flights between laguardia and chicago. we have all the service we need between laguardia and chicago. delta brings nothing to the party. all they're going to do is drive down prices so delta can get traffic in the area. >> that's
CNBC
Apr 28, 2010 11:00am EDT
major categories and we're seeing double-digit volume growth in north america, as well as europe. the important thing is there are all the major stocks from basic chemical group and dupont had excellent guidance and now you had dow chemical and dupont. finally on corning, a slightly different space. the important thing here, tv sales are improving around the globe and corning's numbers have been terrific and they talk about big global growth. they are essentially sold out on their glass business. that's what one analyst at bucking hm said this morning. >> thank you so much, bob pisani. >>> we have breaking news we want to go to a more than $7 billion utility takeover is in the works and our own david faber is reporting that ppl corporation is close to buying german unit eon. the company said it could neither confirm nor deny the report. ppl shares are moving lower, hitting a new 52-week low on the news right there. larry, over to you. >> thanks, trish. >>> europe's growing debt crisises putting pressure on policymakers to expand a bailout package beyond greece. the greek two-year note
CNBC
Apr 22, 2010 3:00pm EDT
company beyond north america. >> i want to ask you about the international story, because i know it is a good one. but are you saying that the traffic returned to the stores, and so that the earnings are coming out better than expected was not necessarily due to cost cutting, but end-market demand, is that what i hear you saying or still largely due to cost cuts? sgl >> well, it is not largely due to cost cutting, but we took out $600 millions of cost cuts, and getting leverage from the p&l, but the real story is comp store sales at 7%, and 3% traffic, and i think that given the headwinds of the economy and all of the things that other people are dealing with, the fact that starbucks has demonstrated such resiliency really does show the power of the brand, and then the other thing is that we demonstrated such value with the starbucks card, and the loyalty program, and we got a big boost from the new product i introduced on the floor with you which is starbucks via. >> yes, we talked about that when you introduced it, and i know it is going very well. that is congratulations to you. can
CNBC
Apr 30, 2010 7:00pm EDT
were growing again. america needs it. i want to just note, we still have some v shapes on this it does track on real gdp. that is some good news. let me clear this and go to the next one. the best part of this story was a large increase, 13.5% in big visit spending. this is called cap ex. this is really important. businesses are profitable it's a u and a v. i'm just going to draw a "v." use your imagination. after all, that's what art is all about, and i'm married to a great artist, so i will draw a page from her. this is a harbinger of much better things, including profits to expand plant and equipment, but to hire workers. so i like that a lot. personal spending went up 3.6%, real personal spending. and here's two interesting points. number one, we see a v-shape there. we're also seeing, by the way, the stuff about the new normal, where consumption goes way down. it's not happening. connell assumption is still about 70% of gross domestic product, so no collapse of personal spending and consumer spending. the final chart is -- let's see, next up, inventories rose by 35 billion. a
CNBC
Apr 1, 2010 5:00pm EDT
to amazon. >> this is america, people. we don't read. >> come on. >> it's all about the video. >> speak for yourself. >> all right, i don't read. >> how do you think i find tiny bradshaw. you don't just make that stuff up. google it! >> you didn't get that from reading, did you? >> topeka it. >> yeah, topeka it. >>> raves for steve's new superstar? surprise, surprise. the real profits are in the plays off the ipad. will it knock off notebooks? kill the kindle? the hidden trades behind the hype. plus, sneaker stock, one-on-one analyst foot fetish. while the one-on-one manager gets two black eyes. we have the quirkiest quarter calls when we continue. >>> welcome back to "fast money." the jobs report, it has been weighs on the minds of traders all week. as the critical data point will be released on a day when the market is actually closed. but our next guest says fear not, and he was, we should note, spot on with his dpaul call last time around with these numbers. joe, you are optimistic more than the street, why? >> thank you, by the way, not mentioning the other bad forecast i
CNBC
Apr 21, 2010 3:00pm EDT
to have a thriving financial sector, because essentially, part of what has made america so successful is our ability if we have a dream, and we want to go get financing for the next apple computer otr nr the next ipod oe next invention out there, we are able to go get investors to finance our dream, and make it happen. so we have to have a thriving and effective financial sector. >> so it is god's work? >> well, it is very important work. we also have to have basic rules of the road in place to ensure that investors, consumers, shareholders, the economy as a whole, are protected against excess, protected against wild gambles that are taken purely because it is good for somebody's year-end bonus as opposed to because there is some economic function that actually contributes to society as a whole. i think that throughout our history, there have been times where the financial sector swung way out of balance, and this is part of what happened back in the 1930s and 1929 after the crash, and fdr came in place and said, we are going to set up some rules so that we don't have bank
CNBC
Apr 26, 2010 4:00pm EDT
. amex, and jpmorgan and citigroup and all of the big names, bank of america, are weighing on the dow and weighing on the s&p 500 in fact, and it is at this point clear that financial reforms and the aftereffects of the goldman sachs' lawsuit is definitely weighing on the big cap financial names. today was also the very first day we saw some weak innocence some of the regional finance names which are not as affected by the whole issue surrounded by financial regulatory reform. nonetheless, the dow jones industrial average acting out a small 3-point increase. "closing bell" is next with maria bartiromo. >>> and it is 4:00 on wall street, and there's the closing bell. breaking news before we get to the show on what goldman sachs' lloyd blankfein will say tomorrow when he testifies to congress. mary thompson with the preview and the script. mary? >> maria, in his testimony before the senate subcommittee tomorrow, goldman sachs' ceo lloyd blankfein will say that the day that the s.e.c. filed fraud charges against the firm it is one of the worst in his professional life. he goes on the
CNBC
Apr 15, 2010 3:00pm EDT
bell," we are in the middle of earnings season and should you buy shares of bank of america, ahead of the earnings report tomorrow? we have more on that coming up. >>> and also, byron weem says that the interim treasury yields are going much higher and let's not forget his surprises. we will have more on that. >>> and the google numbers will be broken down at the top of the the hour and we will give you investor reaction to it. stay with us. >>> all right. we are looking at a market that is deteriorating from the highs. the s&p 500 just turned negative and we have 25 minutes before the closing bell sounds. and the dow has given up a earlier rally and struggling to stay positive here as you can see from the chart. some of the banking stocks have rolled over. for example, bank of america is negative right now, and itas higher earlier. and jpmorgan and citigroup and american express, they, of course, are dow components. goldman sachs, also, negative right here. and nasdaq is also higher, but it, too, well off of the highs of the afternoon and we are waiting for google earnings, and that
CNBC
Apr 26, 2010 2:00pm EDT
markets. 2:00 in washington where america's debt burden rose by the second. maybe you shouldn't worry about that. we've got a shocking fact that may get you to stop in your tracks for a moment today. and it is 10:00 p.m. in rihad, saudi arabia. ranked the worse place to be a woman in the middle east. does america pay the bill to keep women down? welcome to our show. thank you for spending part of your afternoon with us. i'm erin burnett. and let's talk about the market. sure, i'm not a huge gain but the dow is on track for its 12th gain in 13 sessions. really is although thanks to caterpillar. without good old cat the dow would be lower. let's get straight to bob pisani at the new york stock exchange. if you take out cat and the dow is lower, does that mike you worried about the overall market or not, bob? >> no, it doesn't. look, we've got 500 stocks hitting new highs here at the new york stock exchange. is that good or bad? that's just about the best day we've had in years. there's no real sign that the market is deteriorating just because it doesn't go up 100 points a day. remember
CNBC
Apr 5, 2010 11:00am EDT
making too much? let's go to policy director for americans for prosperity. phil, this is america. land of the free. home of the brave. if you're not t.a.r.p.ed, why shouldn't you get what you get? >> i agree 100%, larry. i think executive compensation would be determined by the market. it should be determined by competition. i think that the lot of the problems we've had have been the unforeseen consequences of early government interventions. look at the clinton era cash salary cap of $1 million, led to a lot of the use of stock options that later derided after they forced them to be used through that cash salary cap. i think we're going to see a lot of problems with the new restrictions being put in both by the pay czar and health insurance companies in this new bill. i think the fear of ken feinberg has had a chilling effect on wall street that's been very damaging. in a broader political sense, look at wall street during this health care debate, we got a capital gains and dividend tax hike of 3.8% coming in 2013 without a peep out of wall street. i think a lot of that has to do with
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